Signet Solar stops operations

Signet Solar GmbH has announced that from next week it will no longer be manufacturing thin film photovoltaic (PV) modules. In another blow to the Saxony-based company, no new orders have been placed, and potential investors haven’t yet been able to produce the necessary proof of financing. As a result, employees have received notices to leave.

The news came from insolvency administrator, Christoph Junker. The companys 129 employees were informed on Monday that after months of searching, no restructuring solutions have been found and no new customers could be secured.

Junker said that existing orders will be processed this week. Meanwhile, the PV machinery will be stopped and preserved in case it is needed at a later point.

Currently, there are negotiations with five potential investors taking place which, according to Junker, have already made positive progress. However, thus far, proof of sufficient funds for both the purchase price, and further operating and investment costs, are missing. As a result, negotiations are ongoing. Junker is confident though that a new investor will be found.

pv magazine

The pv magazine editorial team includes specialists in equipment supply, manufacturing, policy, markets, balance of systems, and EPC.More articles from pv magazine

Related

Your email address will not be published. Required fields are marked *

Comment

Name *

Email *

Website

Keep up to date

pv magazine Global offers daily updates of the latest photovoltaics news. We also offer comprehensive global coverage of the most important solar markets worldwide. Select one or more editions for targeted, up to date information delivered straight to your inbox.